Cameco has underperformed for years. About 6 months ago, Cameco started to limit Uranium supply. Now the stock looks set up to run.
The SCTR is moving back above 75 which is a sign of a strong stock. The Full Stochastics are turning up above 50 which is a bull market trait. Price is moving to new 52 week highs.
On the recent pullback, volume was light. Bullish.
Now the PPO is above zero and looks set up to make higher highs. Another bullish trait.
The big picture is the three year base at $13. If this starts to run above that level, this could really become a big multi year move.
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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com